Glossary · View all terms →
Gross Proceeds
The actual sale price of the donated vehicle at auction — your deduction amount.
What it means
Gross proceeds = the amount the charity received when the vehicle was sold. The IRS limits your charitable deduction to this number (with one exception: if the vehicle sells for $500 or less, you can claim up to $500). The charity reports gross proceeds on Form 1098-C box 4c.
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Ready to donate?
60-second form, free pickup nationwide, IRS Form 1098-C after sale.